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Heavy Vehicle Use Tax
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Heavy Vehicle Use Tax
What is Heavy Vehicle Use Tax (HVUT)?
HVUT is a tax for vehicles weighing 55,000 lbs or more that use public highways. You need to fill out Tax Form 2290 as per the IRS rules. PSTC can make it easier for you to handle this tax.
If you drive a heavy vehicle over 55,000 lbs on US highways, you need to file this tax.
Do Canadian Drivers Need to File?
Yes, if you drive your heavy vehicle in the US. If you don’t use your vehicle in the US or if it doesn’t travel more than a certain number of miles, you might not have to pay. We can help you figure out if you need to file and if you can get an exemption.
When to File Form 2290?
You should file Form 2290 the month after you first use your heavy vehicle on public highways within the tax period that starts on July 1 and ends on June 30 the next year. This applies whether you’re paying the tax or reporting a suspension.
What if I Use or Buy a Vehicle After July?
If you start using a new vehicle anytime after July, you must file Form 2290 and pay the tax by the last day of the following month.
Are There Any Exceptions?
Yes, there’s a Mileage Use Limit. If your vehicle is driven 5,000 miles or less (7,500 for agricultural vehicles) on public highways in a year, it might not need to pay the tax. You can ask for a tax suspension on your Form 2290 if this applies to your vehicle.
Tax Credit Vehicles (IRS Form 2290)
Did you know you can get a tax credit on your IRS Form 2290 for some heavy vehicles under certain conditions?
If your heavy vehicle was stolen, destroyed, or sold before June 1st and wasn’t used for the rest of the year, you can claim a credit. Also, if your vehicle was driven 5,000 miles or less, or if it’s an agricultural vehicle driven 7,500 miles or less, it qualifies for a credit too. Remember, you can’t get a credit or refund just because you used the vehicle less or stopped using it.
The rules for getting a credit might seem complex, but PSTC is here to simplify things for you. Let our experts handle it.
We will help you with:
- Guidance on Form 2290
- Determining if you are eligibility for credits
- Keeping accurate records of mileage and usage to support HVUT filings
- Support in filing the form correctly to avoid errors and potential penalties
- Reminders about filing deadlines to ensure timely submission
- Provide assistance in case of an IRS audit
- Process of claiming credits for stolen, destroyed, or sold vehicles
- Electronic submission of Form 2290 for a faster and secure filing process
- Payment Processing of HVUT, ensuring accurate and timely payments
- Updating changes in vehicle status or company information with the IRS
